Her 6 Steps to Showcasing Marketing ROI are below:
- Stop asking marketing firms to call your decision makers and stop passing on firm materials as well.
- Build understanding of what marketing is and the value that it will bring to the Council — and, most importantly, what the Council will lose if it continues without strategic marketing.
- Come to the table with a succinct plan including a budget.
- As you implement your initial marketing project, keep management and board posted on progress.
- Serve as an ongoing marketing mentor to your management and board.
- Once you have one or two successful marketing projects under your belt, then it’s time to develop a comprehensive marketing plan, derived from the Council’s goals.
I’ve been marketing for more than 20 years and I’ve never run into a CEO that turned down a good investment in growing the business. But I consistently see CEOs turn down marketing plans that fail to demonstrate ROI. And the ROI I am talking about is NOT on how many calls were generated, or how many column inches were earned in the media, or even how many brochures were mailed out. Those are all activities and related to expenses. They’re not results. What the executive leadership wants to know is did you move the needle on the dial that is important to them. Those dials could include:
- New member acquisition
- Member retention/churn
- Brand loyalty as an indicator of referrals
- Income generated from fundraising
- Number of new donors
- Number of recurring donors
- % of fundraising to donor base and change from effort
- Share of wallet for donors
And we marketers must be better at financially analyzing the impact of our marketing efforts. It isn’t that we run a marketing campaign and say we spent $5,000 and generated 108 new enrollments. We need to know what the cost per new enrollment is, how one campaign performs against others, and what campaigns are more profitable and contribute to the margin.
But, what else would you add to the list of six from
-- David Kinard, PCM
[photo: Gavoon Products]